Teesside car parts maker Nifco has beaten rivals from Germany, Japan and China to land a £50m deal with Ford.
The 10-year deal, which will create 50 new jobs at Nifco’s factories in Eaglescliffe, will support the firm’s plans for more expansions.
Nifco announced the landmark agreement as Chancellor George Osborne visited its site on Friday.
Mike Matthews, managing director and European operations officer, described the contract as “a hugely significant win” for the company.
Nifco, which nearly went out of business 10 years ago, will produce a complex thermostatic control assembly for a next generation Ford low CO2 engines.
Work will start immediately with engineers from Nifco working with Ford’s product development teams.
Nifco produces plastic components that are used in the engines and interiors of cars made by Nissan, Ford, Toyota, Honda and Jaguar Landrover.
Nifco – which was recognised as an Investors in People employer in January after being reassessed to confirm its status – has secured funding that will allow it to roll out a number of staff development projects, ensuring that its team have the skills and expertise to support the ongoing growth of the business.